In the light of a report by independent consultants, Touche Ross, the Government announced on 4 November 1993,Official Report, columns 309–10, that changes in the television fee would continue to be set at the level of RPI changes for the next three years. It was considered that this would enable the BBC to channel efficiency savings into programmes and allow it steadily to reduce and largely to eliminate its annual borrowing by the end of 1996–97. This policy was reiterated in the July 1994 White Paper on the future of the BBC.